Amidst the vibrant world of beauty brands, Dragun Beauty once shone as a beacon of inclusivity and empowerment, led by the creative force of Nikita Dragun.
However, recent events have cast a shadow over its future.
In this article, we delve into the factors behind this pause and what it signifies for the brand and the broader beauty industry.
Who is Dragun Beauty?
Dragun Beauty is one brand that proves, explains, and stands out to the creative ingenuity and innovative entrepreneurship of Nikita Dragun, an established transgender beauty entity.
The brand Dragun was founded by Dragun, a famous makeup artist and YouTube personality who has managed to carve a niche for itself in the market for cosmetics owing to its inclusive philosophy and belief in oneself.
The heart of Dragun Beauty is centered on diversity and empowerment. Through the utilization of her own platform and life journey as a transgender woman, Dragun strove to develop a beauty company accessible in terms of affordability and quality to people living all over the world.
Incorporating the “beauty for all” philosophy, Dragun Beauty provides a comprehensive collection of makeup products meant to embrace the fact that every individual is beautiful in her unique way.
The fact that is noticeable not only in the variety of products offered but also in the message of self-love and acceptance communicated by Dragun Beauty is what sets it apart from its competitors.
Via her brand, Dragun has pushed for self-acceptance and honesty in one’s self Dragun Beauty is like a lighthouse for anyone, whatever gender, orientation, or race, and affects registration when they feel part of the beauty community and get what they need.
What happened to Dragun Beauty?
Recently, Dragun Beauty has had a major hiatus, causing the brand to put on hold following apparel creation by Nikita Dragun.
This move followed against a background of several factors, particularly the fact that legalities related to Nikita Dragun had caused them to do that as they had to pause such programs altogether.
In November, Dragun came across legal infighting after an arrest incident which reflected uncertainties in the brand’s stability and functioning.
Moreover, internal management disputes have appeared which have exacerbated the situation even more.
Speculations indicate that Nikita Dragun’s management business, Slash Management, ended its relationship with Dragun Beauty because of dissimilar values concerning collaboration and management. The conflicts may have somehow prompted the brand to put the brakes on its activities.
In addition to this, Dragun Beauty has struggled financially; the revenue figures that have kept dropping have continued to aggravate matters.
If we turn to the financial standpoint, although the brand attracted rapid success when first presented in 2019 with a rapid sell-out of its products and grossing notable revenues that year, its performance in recent years has deprecated.
It is reported that Dragun Beauty had a significant decrease in revenue in 2021 as compared to the previous years, a sign that keeping its market space and profitability was a huge challenge.
Why is Dragun Beauty on hiatus?
Its current break of activities is the result of various factors, part of which makes one want the future of Dragun Beauty to be doubtful.
Legal controversy, and conflicted management while generating income that continues to shrink have all but killed its chances of survival and the brand has accordingly suspended its operations.
The arrest of Nikita Dragun, the creator of the brand, in November, just further added to the troublesome field of Dragun Beauty.
Moreover conflicts with management companies e.g. Slash Management are revealed, which makes the picture even more complicated.
The falling revenues with the numbers allegedly going down to nearly $ 1 million in 2021 are a reflection of some fundamental issues in the business.
This though may not be putting the business down so far despite the earlier success and high growth, Dragun Beauty now stands at the crux of no products on sale through the the DTC site or even other social networks.
Since there are issues to be addressed holistically before the resumption of operations, the decision to go on hiatus is evidence of such need.
Though the particular reasons for the pause are kept confidential, it reflects the level of complexity and instability about the actual state of Dragun Beauty.
From the larger field view in the beauty industry, Dragun Beauty’s hiatus stands as a warning to influencer-driven brands regarding the perilous nature of controversies and the need to handle them correctly.